Draft Directive for Dematerialization of Securities

The draft directive establishes a regulatory framework for Ethiopia’s transition from paper‑based to electronic securities, defining key terms, registration and dematerialisation procedures, data migration, account types, enforcement mechanisms, penalties and transitional provisions, and sets its effective date upon registration with the Ministry of Justice. It applies to all publicly offered securities and mandates registration with a licensed Central Securities Depository and Clearing Services Provider, with detailed compliance and sanction rules.